Duplex with Walk-Out
New
For Sale
$835,000
34 Cottage Place, Garfield, NJ 07026
2-4 Family, Garfield, NJ
Property Size2,000 SF
Price / SF$417.50
Days on Market6
Property Features for 34 Cottage Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Basement, Bedroom 4, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 3, Bathroom 1
Basement
Full, Finished
Subdivision
Garfield
Standard status
Active
Utilities
Cooling system
None (Cooling)
Listing Agency:
Keller Williams Village Square Realty · Keller Williams Realty
(201) 445-4300
Listed By:
Sally Ponchak
(201) 891-6700
Added: Sep 22
Changed: Sep 27
Last Checked: Sep 27 at 12:06PM
MLS# 26035981
Copyright © 2026 New Jersey MLS Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family residence is arranged with one apartment on each of two primary levels. Each unit includes 2 bedrooms, 1 full bath, and a dine-in kitchen oriented toward the rear yard. The home provides approximately 2,000 square feet of living space above a partially finished, walk-out basement with an additional full bath. The lower level expands the property’s usable area for storage, recreation, workspace, or similar needs.
Outdoor features include a patio, storage shed, and an extra-deep backyard. The property is positioned on a cul-de-sac in Garfield, with the river nearby. Its two-unit layout and added lower-level space support both investment and owner-occupant use.
Outdoor features include a patio, storage shed, and an extra-deep backyard. The property is positioned on a cul-de-sac in Garfield, with the river nearby. Its two-unit layout and added lower-level space support both investment and owner-occupant use.
Key Highlights
- Two‑family layout with one residence on each of two primary levels
- Approximately 2,000 square feet of living space above the basement
- Each level offers 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,472
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,440
$669.4K
Cap Rate 7%
$478,171
$478.2K
Cap Rate 9%
$371,911
$371.9K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.1K $25.56/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$47.8K $23.91/SF
− OpEx
−$14.3K −$7.17/SF
NOI
$33.5K $16.74/SF
Area
Bergen County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,440
Cap Rate 7%
$478,171
Cap Rate 9%
$371,911
Alternative Uses
Best Use
Multifamily LT 5
$478.2K
$418.4K – $557.9K
NOI $33,472 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 07026, NJ
32,655
Population
12,234
Households
2.7
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
2.1 sq mi
ZIP Area
15,550
Density / Sq Mi
$75,701
Median Household Income
$44,462
Median Earnings
$1,612
Median Rent
$454,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family home with separate upper and lower living areas, basement flexibility, and a deep rear yard.
Where is this duplex located?
The property is located at 34 Cottage Place Garfield, NJ.
What is the asking price?
The asking price for this property is $835,000.
What are key features of this property?
This property features: Two‑family layout with one residence on each of two primary levels; Approximately 2,000 square feet of living space above the basement; Each level offers 2 bedrooms and 1 full bath
